DATE: Thursday, June 4, 2015
TIME: 2:30 PM - 6:30 PM
VENUE: The Union League, 140 S. Broad Street, Philadelphia, PA
ORGANIZER: Anderson Kill
During this seminar our panelists will be discussing the following topics:
Selling a Distressed Business Pursuant to Section 363
- When is a Section 363 sale the best route
- Authorization for a Free and Clear Sale under Section 363(f)
- Public Auction vs. Private Sale
- Rights of Interest Holders to Adequate Protection
- Successor Liability Issues in Section 363 sales
- Using the Right Professionals
- Timing and Procedures
- Credit bidding under Section 363(k)
Selling a Distressed Business Pursuant to a Chapter 11 Plan
- When a sale pursuant to a plan is preferred to a Section 363 sale
- Compliance with plan confirmation, including approval of disclosure statement, is required
- Credit bidding in Chapter 11 auctions – U.S. Supreme Court’s decision in RadLAX Gateway Hotel, LLC v. Amalgamated Bank
- “Cramdown” plans
- Transfer or stamp tax exemption under Section 1146(a) in post-confirmation transfers – major advantage for selling real estate assets under a plan
Debtor-In-Possession Financing (DIP) under Section 364
- Uses of DIP financing to preserve value of the estate
- Priming Liens under Section 364(d)
- Adequate protection of secured prepetition liens
- Procedures for approval of DIP financing
- Creative use of DIP financing by pre-petition lenders
- When are “roll-ups” permissible?
Registration: 2:30 PM to 3:00 PM
Seminar: 3:00 PM to 5:00 PM
Networking Cocktail Reception: 5:00 PM TO 6:30 PM
Cost: Complimentary with RSVP
CLE Approved:
NY CLE: 2.0 credits
PA CLE: 2.0 credits
NJ CLE: 2.4 credits presumptively approved
Speakers:
Frank G. Murphy
Shareholder
Anderson Kill
Moderator
Inez M. Markovich
Shareholder
Anderson Kill
Dennis J. Nolan
Shareholder
Anderson Kill
Howard Brod Brownstein, CTP
Brownstein Corp.